California & The ACA

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How To Calculate Your Percentage Of Federal Poverty

To Calculate:

Take your income

Then divide by the poverty guideline for your household size

Carry the decimal two places in your result

And then add a percentage sign

2015 Poverty Guidelines for CA

Examples:

Example 1 – Income: $20,000 Household: 2

$20,000 ÷ $15,930 = 1.255

You are at 125 percent of the federal poverty guidelines

and likely qualify for the tax credit.

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Example 2 – Income: $150,000 Household: 5

$150,000 ÷ $28,410 = 5.27

You are at 527 percent of the federal poverty guidelines

and are unlikely to qualify for the tax credit.

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California & The ACA

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